Wealth and Income Inequality

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stratification

arranging people systematically in social classes

socioeconomic status

social class

social mobility

ability to move within social classes (left right, up and down)

absolute poverty

inability to provide basic needs (not in america)

relative poverty

less compared to the norm in society

wealth

things you own minus debt

income

what's coming in (salary)

structural mobility

lose home and homeless because of the economy

individual mobility

I quit my job and spent my money and now I'm homeless

Demographics of wealth and poverty

trend minorities (blacks and hispanics) tend to be in poverty and women

minimum wage over time

buy less with conversion rates

executive salaries

1980's 49x average workers pay

2011 459x average worker pay

feminization of pooverty

intersectionality with different status in society

2/3 american poor are women

direct relationship between childhood poverty

Gini Coefficient and US inequality compared to other countrys

self explanatory... we're not that equal, other under developed countries more equal than US

Economic recovery

corporate profits highest since 50s

share of pay going to employees lowest since 60s

Power Elite

same people who exercise power in business also exercise power in the military and politics

small group of people with influence in society, disproportionate to society

people spend millions on campaigns and some don't even win

government interventions in wealth and poverty

tax for top .1% went from 51 to 26%

middle class went up from 14 to 16%

TANF

Temporary assistance for needy families

tax credits to employers

enrollment limits

marriage incentives

work requirements

Medicaid

Medicdal care to:

low income US citizen

welfare

social security

severe disability

Women Infant Children

At poverty line or just over it

serve 53% of infants in the US

No food stamps

Welfare

5 year limit

childcare cost not covered

Criticisms of the poverty line

Do we determine a family’s income by using pre- or post-tax earnings? Do we include food stamps and other transfers? What about the cost of other necessities like shelter, utilities, and transportation? Why have a single poverty line for the entire country when the cost of living varies widely across the nation?

Health problems and poverty

people in poverty don't have access to fresh healthy foods (food deserts)

educational problems and poverty

cultural poverty - social assets such as values, beliefs, attitudes, and competencies and language and culture that at learned at home and required for success and social advancement

social capital

social capital

the networks of relationships among people who live and work in a particular society, enabling that society to function effectively

Functionalist approach

inequality is functional (innovation and competition, someone has to do low wage jobs)

address it by strengthening economic and families

deemphasize that it's a problem and under the assumption that society is stable.

Conflict Theory

Focus on inequality and it's intersection with race and gender

address it by dealing with rising wealth and corporate profit on top and provide more social services and education at the bottom

say functionalist blame victim, investigate and intervene in eduation

Symbiotic Interactionsist

shared understandings and meanings of interactions

labeling theory: how people are viewed and view themselves has strong impact on behavior especially if they believe it